As the most valuable public firm, Nvidia, the darling of artificial intelligence, proceeded to soar above Microsoft, the S&P 500 set a new record.
0.1% was added to the broad market index. The flatline was occupied by the Nasdaq Composite and Dow Jones Industrial Average.
“With Nvidia and the usual suspects, you see investors trying to ride this train as long as they can, but now you got those second-tier names” involved, according to Ken Mahoney of Mahoney Asset Management. Although money isn’t leaving the market, I do believe that this quarter’s leaders will rotate out.
After surpassing Apple in value and reaching a $3 trillion market cap, Nvidia surged 3.8% to overtake Microsoft as the most valuable public business.
in value from earlier this month. As interest in AI continues to grow, the chipmaker has seen a rise of more than 170% since the year’s beginning.
Source (CNBC)
